NATICK, Mass., April 29, 2014 /PRNewswire/ -- Boston Scientific Corporation (NYSE: BSX) generated sales of $1.774 billion during the first quarter ended March 31, 2014. This represents 4 percent operational revenue growth (constant currency basis, excluding divested businesses) and 1 percent revenue growth on a reported basis, all compared to the prior year period. The company also achieved adjusted earnings per share of $0.20 in the period, compared to $0.16 a year ago, and GAAP earnings per share during the period of $0.10, compared to a GAAP loss per share of $(0.26) a year ago.
"I am pleased with our overall performance in the first quarter as our team delivered accelerated EPS and consistent revenue growth," stated Mike Mahoney, president and chief executive officer, Boston Scientific Corporation. "Our international businesses performed very well in the quarter as we continued to diversify geographically. We remain confident in both our outlook for the year and in our strategy."
First quarter financial results and recent developments:
Achieved first quarter sales of $1.774 billion, representing 4 percent operational revenue growth and 1 percent revenue growth on a reported basis, all compared to the prior year period.
Delivered adjusted earnings per share of $0.20 compared to the company's guidance range of $0.16 to $0.18, and GAAP earnings of $0.10 per share compared to the company's guidance range of $0.06 to $0.08 per share.
Achieved 9 percent revenue growth in MedSurg, with Neuromodulation growing 23 percent, Urology and Women's Health growing 8 percent and Endoscopy growing 5 percent, all on a constant currency basis over the prior year period.
Improved performance in Interventional Cardiology, which experienced 1 percent revenue growth versus the prior year period on a constant currency basis.
Achieved year-over-year revenue growth internationally of 8 percent, primarily driven by 22 percent growth in Emerging Markets, which represented 9 percent of total company sales, all on a constant currency basis.
Generated operating cash flow of $198 million and used $125 million to repurchase approximately 10 million shares under the company's existing share repurchase authorization.
Announced U.S. FDA approval for the DYNAGEN™ MINI and INOGEN™ MINI ICDs, as well as the DYNAGEN™ X4 and INOGEN™ X4 CRT-Ds, which represent the latest generation of defibrillators and heart failure devices designed to advance patient care. (They should see some topline revenue growth from these new devices in this quarter's results)
Published new interim registry data (EFFORTLESS S-ICD) confirming long-term safety and effectiveness of the S-ICD™ System and the clinical benefits in a broad range of patients at risk of sudden cardiac arrest.
Announced CE Mark approval of the Ingevity™ family of MRI-compatible pacing leads and the REBEL™ Platinum Chromium Coronary Stent System, and an expanded CE Mark indication for the WallFlex™ Esophageal Stent (for the treatment of refractory benign esophageal strictures).
Reported key data at the American College of Cardiology 2014 Scientific Sessions for cardiac resynchronization therapy technology (MADIT-CRT), platinum chromium stents (PLATINUM Workhorse), and the Lotus™ Valve System (REPRISE II), thus reinforcing a commitment to the development of innovative therapies to improve care for patients with cardiovascular disease.
Recent BSX News
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- Boston Scientific Receives FDA Approval for Expanded Indication of INGEVITY™+ Pacing Leads to Include Conduction System Pacing of the Left Bundle Branch Area • PR Newswire (US) • 09/17/2024 11:00:00 AM
- Boston Scientific Obtains CE Mark for ACURATE Prime™ Aortic Valve System • PR Newswire (US) • 08/27/2024 10:57:00 AM
- Boston Scientific to Participate in Wells Fargo's 2024 Healthcare Conference • PR Newswire (US) • 08/13/2024 12:00:00 PM
- Boston Scientific Elects David Habiger to Board of Directors • PR Newswire (US) • 07/30/2024 08:05:00 PM
- Boston Scientific Announces Results for Second Quarter 2024 • PR Newswire (US) • 07/24/2024 10:30:00 AM
- Boston Scientific Announces Conference Call Discussing Second Quarter 2024 Results • PR Newswire (US) • 07/01/2024 12:00:00 PM
- Rowley Law PLLC is Investigating Proposed Acquisition of Silk Road Medical, Inc. • PR Newswire (US) • 06/18/2024 05:23:00 PM
- Boston Scientific Announces Agreement to Acquire Silk Road Medical, Inc. • PR Newswire (US) • 06/18/2024 11:00:00 AM
- Silk Road Medical Announces Definitive Agreement to be Acquired by Boston Scientific • GlobeNewswire Inc. • 06/18/2024 11:00:00 AM
- MODULAR ATP Study of the mCRM™ System Meets Primary Safety and Efficacy Endpoints • PR Newswire (US) • 05/18/2024 03:03:00 PM
- Boston Scientific Elects Dr. Cheryl Pegus to Board of Directors • PR Newswire (US) • 05/08/2024 08:00:00 PM
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- Boston Scientific Announces Results for First Quarter 2024 • PR Newswire (US) • 04/24/2024 10:30:00 AM
- Boston Scientific Initiates NAVIGATE-PF Study of the FARAWAVE™ Nav Pulsed Field Ablation Catheter and FARAVIEW™ Software Module • PR Newswire (US) • 04/08/2024 04:00:00 AM
- Boston Scientific Announces Conference Call Discussing First Quarter 2024 Results • PR Newswire (US) • 04/01/2024 12:00:00 PM
- Boston Scientific Receives FDA Approval for the AGENT™ Drug-Coated Balloon • PR Newswire (US) • 03/01/2024 11:55:00 AM
- Boston Scientific Announces Completion of €2.0 Billion Offering of Senior Notes • PR Newswire (US) • 02/27/2024 09:15:00 PM
- Boston Scientific Announces Pricing of €2.0 Billion of Senior Notes • PR Newswire (US) • 02/23/2024 02:27:00 AM
- Boston Scientific to Participate in TD Cowen's 44th Annual Health Care Conference • PR Newswire (US) • 02/05/2024 01:00:00 PM
- Boston Scientific Announces Results for Fourth Quarter and Full Year 2023 • PR Newswire (US) • 01/31/2024 11:30:00 AM
- U.S. Futures Waver Ahead of Fed Decision Amid Mixed Corporate Earnings; Oil Prices Slide • IH Market News • 01/31/2024 11:29:30 AM
- Boston Scientific Receives FDA Approval for FARAPULSE™ Pulsed Field Ablation System • PR Newswire (US) • 01/31/2024 11:25:00 AM
- Rowley Law PLLC is Investigating Proposed Acquisition of Axonics, Inc. • PR Newswire (US) • 01/08/2024 09:55:00 PM
- Axonics Shares Climb 20% After Acquisition by Boston Scientific • Dow Jones News • 01/08/2024 04:36:00 PM
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